Context Capital Management Portfolio holdings
Context Capital Management is an alternative asset manager that runs hedged funds built mainly around convertible bonds. Its main strategies are convertible arbitrage, capital structure arbitrage and event-driven trading. Michael Rosen and William Fertig co-founded the firm. Rosen co-owned a mutual fund company that specialized in convertible securities, and in 1990 Fertig led McMahan Securities into brokering convertible and derivative securities. Charles Carnegie, its chief investment officer, first worked at the firm from 2005 to 2008 and returned in 2015 as portfolio manager. Its funds are open to high net worth individuals, corporations and other institutions.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Biotechnology ETF
IBB
|
+$538K |
| 2 |
Vanguard Morningstar Total Stock Market ETF
VTI
|
+$530K |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 99.34% |
| 2 | Technology | 0.66% |
| 3 | Energy | 0% |
| 4 | Healthcare | 0% |
| 5 | Real Estate | 0% |
Similar funds
Context Capital Management's Q2 2016 Portfolio in Review
As of Q2 2016, Context Capital Management held 44 positions worth $86.1M, up 7% from $80.4M the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Context Capital Management withdrew a net $55.8M in Q2 2016, closing 8 positions and reducing 4 holdings. Its most notable exit was RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest, an estimated $2.84M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 99% of assets, up from 98% a quarter earlier, followed by Technology and Energy.
Against the trend, Context Capital Management opened a new position in iShares Biotechnology ETF worth $515K.
- Context Capital Management's largest Q2 2016 buy was iShares Biotechnology ETF: 6,000 shares worth $515K.
- Context Capital Management added most to Vanguard Morningstar Total Stock Market ETF in Q2 2016, an estimated $530K increase.
- Context Capital Management's biggest Q2 2016 reduction was Apple, cutting an estimated $408K.
- Context Capital Management fully exited RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest in Q2 2016, selling an estimated $2.84M.
- Context Capital Management's ten largest holdings make up 63% of its $86.1M portfolio in Q2 2016.
- Context Capital Management opened 1 new position and closed 8 in Q2 2016.
- Context Capital Management's portfolio value rose 7% quarter-over-quarter to $86.1M.
Based on Context Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.